Drilling rigs typically consist of a multitude of different pieces of equipment. In addition to the natural wear and tear that all equipment experiences, the relatively harsh environment in which drilling rigs causes some equipment to fail. Different equipment, however, fails at different rates and in different ways. There are currently limited ways to understand the current and predicted operational status of the various pieces of equipment used on a drilling rig. Given the broad spectrum of different operational activities & routines, sub-system interactions, manufacturers, and the sheer number of variables involved in drilling rigs, the number of possible operational states for a rig are vastly numerous. As such it is quite difficult to derive health correlations based on monitoring operational conditions alone. There is a need for systems and methods to circumvent this variability and to provide understanding across different pieces of equipment, technologies, and manufacturers.